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Zinc producers and traders have secured stable premiums in 2012 contracts struck with European buyers, but some consumers have asked for optionality on supply volumes, fearing further demand deterioration.
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Shanghai Futures Exchange copper prices ended up 3.1% for the week, after a few rounds of positive data from the US.
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More ferro-silicon producers in China are likely to shut down their smelters after prices reached their lowest point this year.
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Century Aluminum Co. has responded to former president and chief executive officer Logan Kruger’s breach-of-contract and wrongful-termination lawsuit, petitioning to have Kruger’s claims resolved in arbitration and the original lawsuit dismissed.
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IBC Advanced Alloys Corp. is optimistic about the coming year after its stock price declined in the latter half of 2011, which its asserted was the result of market fears rather than fundamentals.
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Midwest aluminum premiums have softened further this week on the back of slow year-end demand and a persisting backwardation on the London Metal Exchange, although most suppliers said they remain optimistic that premiums will bounce back in the new year.
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Argentina’s foreign trade undersecretary Iván Heyn, a board member at the country’s sole aluminium producer, Aluar, has been found dead in a hotel in Montevideo, the capital of Uruguay.
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“The breach consists of Codelco’s premature attempt to exercise the option and Codelco's actions aimed at preventing Anglo American from exercising its contractual rights under the option agreement,” Anglo said in a statement on Thursday.
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Unionized workers at Noranda Income Fund’s CEZinc facility in Salaberry-de-Valleyfield, Quebec, have voted to approve a new three-year collective bargaining agreement, the company said Thursday.
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The Santiago Court of Appeals has rejected a bid by Anglo American to lift an injunction preventing it from selling further shares in Anglo American Sur.
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Cancelled aluminium warrants in Pacorini’s warehouses in Vlissingen have skyrocketed to 500,000 tonnes from zero in just two days, in a move market participants suspect is designed to boost revenues in the similar way to Metro’s Detroit warehouses earlier this year.
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Copper prices settled above $7,500 per tonne in official trading on Thursday as the market awaited the latest US unemployment data.
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The charge and high carbon ferro-chrome benchmark price for the first quarter of 2012 settled down 5 cents at $1.15 per lb on Wednesday 21 December.
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A new metal structure 100 times lighter than Styrofoam and poised to revolutionise the aerospace and automotive industries has been developed in the USA by a team of researchers from the California Institute of Technology, HRL Laboratories and the University of California Irvine.
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Shanghai Futures Exchange copper prices rose just 0.1% on Thursday, as growth in November copper imports gave some support to prices.
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London Metal Exchange copper had an uneventful morning in early Asian trading on Thursday as investors in Asia mulled the efficacy of the European Central Bank’s (ECB) loan deal.
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China’s zinc ore and concentrate imports rose by 34.6% month-on-month in November, rebounding from a four-month low, according to the latest customs data.
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Almag Aluminum Inc. plans to open a new facility at a brownfield site in Ardmore, Ala., in the first half of 2012, a company executive says.
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The global aluminum industry has emerged from the recession a more consolidated but less vertically integrated sector, and such large-scale reshaping is unlikely to change any time soon, an industry veteran says.
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Investment in the mining sector could moderate in the months ahead as macroeconomic uncertainty continues to keep a lid on new spending, equipment maker Joy Global Inc.’s top executive said.
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Copper prices were holding above $7,400 per tonne at the close of trading on Wednesday, rebuilding after a mid-day slump.
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A record 326 tonnes of cobalt worth $10 million were traded on the London Metal Exchange on Monday December 19, the LME said.
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Almag Aluminum Inc. plans to open a new facility at a brownfield site in Ardmore, Ala., in the first half of 2012, a local official told AMM.
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After recording 17.3% losses on its recommendation to buy June 2012 LME copper, Goldman Sachs has ‘reset’ its long call on the market at the December 19 price of $7,274 per tonne.